Rayonier (RYN) FY2015 results: revenue $569 million, down 5.8% on the year
Rayonier Inc. (RYN) reported revenue of $569 million for fiscal 2015, the year ended 31 December 2015, down 5.8% on the year before. Net income was $46 million, down 53.5%, and diluted earnings per share $0.37. The figures are the company's own, from the 10-K it filed with the SEC on 29 February 2016.
Revenue
$569 million
-5.8% on the year
FY2008FY2015
Operating margin
13.7%
16.3% a year earlier
FY2008FY2015
Net income
$46 million
-53.5% on the year
FY2008FY2015
Diluted EPS
$0.37
-51.3% on the year
FY2008FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
569
604
660
-5.8%
Cost of revenue
441
484
531
-8.8%
Gross profit
128
120
129
+6.7%
Gross margin
22.5%
19.8%
19.5%
Selling, general and administrative
45.8
47.9
55.4
-4.5%
Operating income
77.8
98.3
109
-20.9%
Operating margin
13.7%
16.3%
16.5%
Interest expense
31.7
44.2
40.9
-28.4%
Pre-tax income
43.1
44.8
70.2
-3.9%
Income tax
-0.9
-9.6
-35.7
Effective tax rate
-2.0%
-21.4%
-50.9%
Net income
46.2
99.3
372
-53.5%
Net margin
8.1%
16.5%
56.4%
Diluted EPS
$0.37
$0.76
$2.86
-51.3%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
177
320
547
-44.7%
Capital expenditure
2.7
3.7
1.3
-27.2%
Free cash flow
174
317
546
-44.9%
Free cash flow margin
30.7%
52.5%
82.7%
Cash from investing
-166
-197
-471
Cash from financing
-116
-161
-157
Depreciation and amortisation
114
120
117
-5.2%
Share-based compensation
4.5
7.9
11.7
-43.0%
Buybacks
100
1.9
11.3
+5,282.1%
Dividends paid
125
258
237
-51.5%
Dividend per share
$1.00
$2.03
$1.86
-50.7%
Diluted shares, weighted
126m
131m
130m
-3.9%
Shares outstanding at period end
123m
127m
126m
-3.2%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
1,288
1,488
1,661
-13.5%
Non-controlling interest
73.7
86.7
94.1
-15.0%
Debt
834
752
1,574
+11.0%
Other liabilities
124
126
356
-2.2%
Total liabilities and equity
2,319
2,453
3,686
-5.5%
Fixed assets
6.7
6.7
861
+0.5%
Goodwill
8.5
9.7
10.2
-12.5%
Cash and equivalents
51.8
162
200
-68.0%
Receivables
20.2
24.0
95.0
-15.8%
Inventory
15.4
8.4
139
+83.1%
Other assets
2,217
2,243
2,381
-1.2%
Total assets
2,319
2,453
3,686
-5.5%
10-K for the year ended 31 December 2015, filed 29 February 2016: the filing.